AgResource Hog Comment and Analysis
** Hog Futures Plummet on Fund Sales and Large US Kills: CME hog futures fell to sharp losses on Wednesday as the weekly kill rate stays elevated and the details are China’s future pork purchase program is awaited. February hog futures fell to test the late summer low at $63.675. ARC looks for this low…
AgResource Wheat Comment and Analysis
** CBOT Wheat Ends Lower; Seasonal Downtrend Beginning? US wheat futures ended sharply lower. Wheat’s premium to corn worldwide has gotten expensive and some measure of liquidation is occurring as wheat feed use retreats. ARC has also long discussed the negative seasonal trend that emerges in world wheat markets in February. It’s premature to forecast…
AgResource Corn Comment and Analysis
** CBOT Corn Corrects on Argentine Rain/Rising US Ethanol Stocks: March CBOT corn ended 2 cents lower with strong chart-based resistance noted at $3.89. Better than expected rain fell across the drier areas of La Pampa and Buenos Aires overnight. Model guidance in Argentina features adequate rainfall across some 80% of Argentina’s Corn Belt during…